Citi

The primary market in covered bonds was active this week, but not in its staple euro market. Canadian issuers came to the fore, supplying benchmark deals in sterling and dollars.

ING has seemingly obtained a strong enough investor response for its debut additional tier one to announce the deal before the roadshow has even ended.

Africa Finance Corp is meeting investors for its inaugural Eurobond.

Turkiye Sinai Kalkinma Bankasi (TSKB) has mandated five banks to arrange a dollar Reg S bond — BNP Paribas, Citi, Commerzbank, ING, and Standard Chartered Bank.

BMW dominated corporate bond issuance in Europe on Thursday, with an unusually large €2.5bn transaction.

Slovak Telekom, on Wednesday, said it intended to float 49% of its business in a joint Bratislava and London listing.

The spark of life was seen in the senior unsecured market on Wednesday, with Credit Suisse’s senior unsecured bond, issued from its holding company, quickly achieving blowout status during the bookbuilding process.

Royal Dutch Shell’s £47bn takeover offer for BG Group may bypass the public equity capital market — at any rate, no public issue has been mentioned to finance the £13.1bn cash element of the purchase price. But Shell has raised its asset disposal target for 2016-18 to $30bn.

Noble Group, a commodities supplier, has launched into general a $2.25bn financing that is being led by a 15-strong group of banks.

Aircraft leasing company AerCap has refinanced a $1.1bn term loan facility after American International Group announced plans to sell its stake in the company.

After a late rush from several sovereign borrowers, CEEMEA international bond volumes finished the first quarter of the year at $32bn from 44 deals, almost on par with Q1 2014s $34.7bn via 39 deals.

A pipeline of financial institution deals is assembling following the Easter break, with ING hitting the road for its additional tier one deal in three continents and Achmea announcing a senior unsecured transaction.